South Africa

South Africa is highly exposed to the global oil crisis, importing 80% of its oil needs, with gasoline prices now at $1.42/L. The country's 35 days of reserves provide some short-term stability, but the ongoing Eskom power crisis exacerbates energy insecurity and economic strain. Moderate food risk is noted with fertilizer costs up 55%, adding to inflationary pressures. The coming weeks will likely see continued high fuel costs impacting consumers and businesses, with the dual energy crises posing a significant challenge to economic stability.